trueEX, one of the fastest growing swap execution facilities, has announced its decision to support market activity during London business hours due to rapidly growing client demands in both the US and across Europe.
The move follows trueEX’s decision last year to disaggregate its post-trade execution business into a sovereign legal entity amid a period of rapid expansion for the group.
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Its transatlantic expansion means that European clients now have access to the same range of currencies, products and features as those in North America. Platform connectivity is available from 7:30am London Time, with the market opening at 8am, supported by a dedicated sales, onboarding, regulatory and IT team.
New York-based trueEX, is a CFTC-regulated Swap Execution Facility (SEF) and Designated Contract Market (DCM) which currently supports 18 currencies and is ideally positioned to facilitate the regulatory transition underway in the derivatives markets. Its SEF provides request-for-quote (RFQ) trading protocols and a proprietary portfolio terminations and compactions (PTC) system for the efficient trade management of existing positions through direct connectivity to multiple clearing houses.
trueEX has executed over $1.8 trillion in trading volumes and $10 trillion in post-trade services and was recently named SEF of the Year at the 2016 Risk Awards. The company plans to add other liquid derivatives to its portfolio in the near future.